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Adjustable Rate Calculator

What Is Your Adjustable Rate Mortgage Monthly Payment During the Initial Fixed Rate Term? What Are the Estimated Monthly Payments Based on Assumptions of Future Interest Rate Adjustments?

Payments on adjustable rate mortgages can change over time. Use this calculator to determine your estimated monthly payment on an adjustable rate mortgage loan, both during the initial fixed rate period and based on assumed future interest rate adjustments.

Mortgage payments can vary depending on your down payment, loan amount, interest rate, and loan product selection. To obtain a more accurate estimate as well as informed insights regarding this option, contact one of our experienced Park Cities Mortgage loan officers today.

Keep in mind that this is only an estimate. Your actual payment will depend on the mortgage option that you choose, the interest rate that you qualify for, as well as the down payment amount that you are contemplating. Remember to consider the impact property taxes and homeowner’s insurance premiums have on a total monthly payment. A payment is more than just principal and interest.

An Adjustable Rate Loan Isn’t Your Only Option

Adjustable rate loans aren’t for everyone. Because of the potential for future interest rate increases, adjustable rate loans compared to the traditional fixed rate option impose an additional risk. Often the benefit of initial lower monthly payments vs. interest-rate risk makes other loan options more suitable to a borrower’s needs.

Very often, traditional fixed options that provide for a consistent, reliable, and constant monthly payment are more important. The certainty of the time that you will remain in your home may be the most important factor influencing the evaluation in determining the benefit of the adjustable rate option.

Identifying the factors that help determine if an adjustable rate option is beneficial is best accomplished by the participation of a mortgage loan expert like those at Park Cities Mortgage. They have the experience to provide both short- and long-term perspectives that are often overlooked. It is easy to be motivated to accept a riskier mortgage option when the focus is solely based on the lower monthly mortgage payment. The objective assessment of a mortgage expert like those at Park Cities Mortgage is highly encouraged.